RS2 announces succession plan

During this morning's annual general meeting, RS2 Software plc chairman Reinhold Schäffter, announced that the present CEO Mario Schembri will be succeeding him as chairman as from next January 1.

Mr Schembri will in turn be replaced by Radi El Haj, who has been with the company for the past 15 years and currently heads the business development team.

During this morning's AGM, shareholders approved all items on the agenda including the net dividend of €0.03,2 per share which will be paid tomorrow.

On the secondary market, the equity of RS2 edged minimally higher to regain the €0.50 level across eight trades totalling 45,000 shares.

Crimsonwing plc shares were active today for the first time in almost two months. Three deals totalling over 15,000 shares were transacted during this morning's session with the share price easing 0.8 per cent to a new 18-month low of €0.36,6.

The IT company is expected to publish its financial statements for the financial year ended March 31 by the end of July.

In the banking sector, the share price of Bank of Valletta plc slipped 1.1 per cent lower to €2.71,9 on volumes of 10,237 shares. Meanwhile, HSBC Bank Malta plc was inactive during this morning's session while FIMBank plc dropped 3.8 per cent to a new 64-month low of US$0.77 on a small trade of a mere 102 shares.

Grand Harbour Marina plc retreated by 0.6 per cent back to €1.96,8 across two trades totalling 3,000 shares.

The company is scheduled to hold its AGM on June 28. On the other hand, MIDI plc edged 1.2 per cent higher to regain the €0.44 level across 30,000 shares.

However, offers are already placed minimally lower at the €0.43,9 level.

The other three active equities during this morning's session on the Stock Exchange, namely GO plc, MaltaPost plc and Plaza Centres plc all closed unchanged.

The MSE Share Index dropped by 0.33 per cent to 3,365.023 points.

On the bond market, various Malta Government Stocks and corporate bonds were active.

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